The former president and CEO of Third Wave Technologies Inc. is moving the Massachusetts company he now heads to Madison after receiving $1 million loan from the state Department of Commerce.

“The assistance provided by the governor was a critical part of our relocation decision,” said Kevin Conroy, the company’s president and chief executive. “We know from past experience that Wisconsin, and the Madison area, in particular, is a great place to build a biotechnology company.”

Exact Sciences Corp., a molecular diagnostics company focused on colorectal cancer, expects to make a significant investment in its relocated operations, creating as many as 150 jobs over five years. Conroy is a member of the Wisconsin Technology Council board of directors. Read more on